Flandro Company uses a standard cost system and sets its predetermined overhead rate on the basis of direct labor-hours. The following data are taken from the company's planning budget for the current year: Denominator activity (direct labor- hours) Variable manufacturing overhead cost Fixed manufacturing overhead cost 13,000 $ 46,800 $124,800 The standard cost card for the company's only product is given below: (2) Inputs Direct materials (1) Standard Standard Quantity Price or Hours or Rate 4 yards $ 2.40 per yard 2 hours $ 8.8e per hour 2 hours $13.20 per hour Standard Cost (1) X (2) $ 9.60 Direct labor 17.60 Manufacturing overhead Total standard cost per unit $53.60 During the year, the company produced 6,760 units of product and incurred the following actual results: Materials purchased, 42,900 yards at $2.30 per yard $ 98,670 Materials used in production (in yards) 27,890 Direct labor cost incurred, 14,000 hours at $8.40 per $117.620 hour Variable manufacturing overhead cost incurred $ 47,450 Fixed manufacturing overhead cost incurred $ 93,800 Required: 1. Create a new standard cost card that separates the variable manufacturing overhead per unit and the fixed manufacturing overhead per unit. 2. Compute the materials price and quantity variances. Also, compute the labor rate and efficiency variances. 3. Compute the variable overhead rate and efficiency variances. Also, compute the fixed overhead budget and volume variances